The coronavirus pandemic’s impact on the housing and building products industry has been swift and jarring, but recovery and growth to the sector could come quicker than you might think.
In other words, this won’t be like the crisis of 2008, according to Goldman Sachs’ Terry Hagerty, co-head of homebuilding & building products investment banking.
“Look – we are all human and we are all subject to some recency bias, and I think folks are looking to 2008 and approximating equity market performance and financial performance of the sector to be similar to what they saw then,” Hagerty said during a recent episode of the Exchanges at Goldman Sachs podcast.
“I will say the environment is much different from my perspective and for a couple of reasons.”
And what are Hagerty’s reasons?
As for trends that will emerge from this downturn, Hagerty notes a few key waves that investors should be closely eyeing.
Hagerty’s pick for most popular part of the home for repairs and remodels: outdoor living space.
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